News

Mr. Paul Jenkins, the current Senior Deputy Governor of the Bank of Canada, has advised the Bank that he will not seek renewal of his term of office and will leave the Bank of Canada when his current seven-year term expires in April 2010

While conditions in the Canadian economy have improved since we met with you in May, many of the basic challenges remain. Before Paul and I take your questions, allow me to outline some of the highlights from our latest Monetary Policy Report, which the Bank released last week.

While conditions in the Canadian economy have improved since we met with you in February and April, many of the basic challenges remain. Before Paul and I take your questions, I would like to give you some of the highlights from our latest Monetary Policy Report, released last week.

"The fundamental objective of the G-20 reforms is to create a resilient, global financial system that efficiently supports worldwide economic growth," Governor Carney said in a speech today to the Autorité des marchés financiers.

After briefly reviewing the current macrofinancial environment, I intend to concentrate on the G-20 reform agenda. The financial crisis has cost tens of millions of jobs and trillions of dollars in foregone output.